The Lyceum Theater opened in December of 1902. The Lyceum Theater was remodeled and reopened in October of 1928 as the Rialto Theater. In 1928 a Marr & Colton organ was installed in the Rialto Theater.

For some reason, the address 500 Seventh Avenue is mis-located by Google Maps. The pin shows up in Patterson Heights, which looks to be about a mile southwest of the correct location. If you use the street number 502 it goes to the right location in Beaver Falls.

502 was the more likely address of the theater in any case, as old photos show that there were storefronts either side of the theater entrance, and the storefront on the corner location would have gotten the address of 500.

This book has a photo of the Lyceum and its neighboring theater, the Savoy, which was demolished in the 1930s, but on the site of which the State Theatre was built in 1940.

With regard to my previous comment, the caption of the photo in the book I linked to (“Beaver Falls: Gem of Beaver County,” by Kenneth Britten,) has an error in it. It says that the Savoy was renamed the Rialto in 1928 and demolished in 1930, when in fact it was the Lyceum which was renamed the Rialto, and it was the Savoy that was demolished in 1930 (or later in that decade, according to this web page with an article written by Carole Williamson in the 1950s.)